Hello -I am a first time homebuyer and I am currently in contract to purchase a 3 family home in NJ that was built in the 1920s.

Abstract fees (abstract of title fees).Charges for installing utility services.Legal fees (including title search and preparationof the sales contract and deed).Recording fees.Surveys.Transfer taxes.Owner's title insurance.Any amounts the seller owes that you agree to pay, such as back taxes or interest,recording or mortgage fees,charges for improvements or repairs,and sales commissions.Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance.3) if there were other costs incurred to acquire the house such as if you spend money for tax advice, tickets to fly to look at the house( or milage)  and such also gets added to the basisGood luck

I'm hesitant to post the exact listing despite being under contract, as I am wary of someone else deciding it's a great deal and telling me it's no good then pouncing on it when I bail on it. :-)

Save money to buy something.I put property 2 under contract one day after property 1 closed

Also, make sure you have contracts!

I will write up a contract and we can both go over it in a week. 

I am close to going into contract for the sale of my property.

And made a payment for rent, and is in contract to have me paid off by the middle of August.

If a buyer is allowed to pass after a winning bid by not submitting the contract to HUD, is he/she allowed to bid again the next day?

I have grown up working in a national contracting business, and am therefore familiar with how contractors work and communicate (I really enjoy this aspect of RE).